TotalEnergies Advertising and marketing Nigeria Plc introduced a pre-tax revenue of N415.5 million for the fourth quarter of 2024, as detailed in its newest {financial} report launched on the Nigerian Alternate (NGX) on January 29, 2025.
This determine displays a 56.71% decline from the N959.8 million reported in the identical quarter the earlier 12 months.
Nevertheless, full-year pre-tax earnings elevated considerably to N42.2 billion, marking a 140.41% rise from N17.5 billion in FY 2023.
By way of income, the fourth quarter witnessed a 16.23% year-over-year rise, totaling N247.9 billion in comparison with N213.3 billion within the corresponding quarter of the earlier 12 months.
Consequently, the whole income for FY 2024 reached N1 trillion, reflecting a big year-over-year enhance of 63.83% from the N635.9 billion reported in FY 2023, with a considerable portion of this income derived from petroleum product gross sales.
Key Highlights (2024 vs 2023 FY)
A cursory view of TotalEnergies’ earnings report reveals that rising gross sales prices and bills are eroding the advantages of income on pre-tax revenue.
For the full-year 2024, whole income reached N1 trillion, reflecting a big year-over-year enhance of 63.83% from the N635.9 billion reported in FY 2023.
Nevertheless, the price of gross sales climbed by 67.14% year-over-year, reaching N926.1 billion, up from N554.1 billion in FY 2023.
Regardless of the rise in prices, the corporate reported a gross revenue of N115.7 billion, which is a 41.47% rise from N81.8 billion in FY 2023.
Moreover, ‘different earnings’ elevated considerably, by 610.87% year-over-year to N30.8 billion, largely pushed by write-backs of provisions, which comprised 81.2% of this determine.
By way of working revenue, the corporate recorded N62 billion, up 158.69% year-over-year from N23.9 billion in FY 2023.
Finally, TotalEnergies’ pre-tax revenue for FY 2024 soared by 140.41% to N42.2 billion in comparison with N17.5 billion in FY 2023.
Whole belongings reached N536.7 billion for FY 2024, reflecting a considerable enhance from N375.1 billion within the earlier fiscal 12 months.
